President Donald Trump announced that he would be revealing the tariff rate on imported semiconductors, with potential exemptions for certain companies in the sector. This move comes after a national security trade probe was launched into the semiconductor industry, signaling a reset in trade relations within the sector. The exclusion of smartphones and computers from tariffs on China appears to be short-lived, with Commerce Secretary Howard Lutnick indicating that new duties targeting semiconductors and critical technology products from China will be imposed in the coming months. The back-and-forth on tariffs has caused fluctuations in the stock market, with Trump’s administration facing criticism for its handling of the issue. Billionaire investor Bill Ackman called for a pause in tariff escalation on China to avoid disruption, while U.S. Senator Elizabeth Warren criticized the lack of a coherent tariff policy. Despite these challenges, White House trade adviser Peter Navarro expressed a willingness to negotiate with China, while Trade Representative Jamieson Greer hinted at potential deals with other countries. However, concerns are mounting over the impact of tariffs on the U.S. economy, with billionaire Ray Dalio warning that the country is at risk of sliding into a recession if the situation is not managed effectively.
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